Hunt ends by confirming that benefits and pensions will rise in line with inflation.
Benefits will go up in line with the inflation rate in September, 10.1%, he says. He says this will cost £11bn, but an average family on universal credit will gain by £600, he says.
Mr. Speaker, Mr. Speaker, there have also been some representations to keep the uplift to working age and disability benefits below the level of inflation given the financial constraints we face, but that would not be consistent with our commitments to protect the most vulnerable. So today I also commit to upgrade such benefits by inflation with an increase of 10.1%.
And pensions, and pension credit, will also rise by 10.1%, he says. The triple lock is being protected, he says.
He ends by saying:
This is a balanced plan for stability, a plan for growth and a plan for public services.
It shows that you don’t need to choose either a strong economy or good public services.
With Conservatives, and only with Conservatives, you get both.
Hunt says he is accepting a recommendation from the Low Pay Commission and increasing the national living wage by 9.7% next year.
That means from April 23, the hourly rate will be £10.42 which represents an annual pay rise worth over £1,600 pounds to a full time worker.
More to follow….